What is an online payment platform?

The online payment platform refers to the platform that the platform provider establishes the connection between merchants and banks through communication, computer and information security technology, and realizes the monetary payment, cash flow, fund settlement and query statistics among consumers, financial institutions and merchants.

Online payment is the "intermediate platform" for the funds of buyers and sellers in the transaction process, and it is an independent institution to protect the interests of both parties under the supervision of banks.

In the transaction through the online payment platform, after purchasing the goods, the buyer uses the account provided by the online payment platform to pay for the goods, and the online payment platform notifies the seller of the arrival and delivery of the goods; After the buyer inspects the goods, he informs the seller to pay, and the online payment platform transfers the money to the seller's account.

As the supervisor and main payment channel of online transactions, online payment platform provides richer means of payment and reliable service guarantee.

Extended data:

In China, dozens of third-party payment platforms have emerged. The business models and technical realization methods of these platforms are different, but the architecture of the platforms all has a similar basic point, that is, the front end of the third-party payment platform directly faces online customers, and the back end of the platform is connected to commercial banks, or connected to commercial banks through the People's Bank of China payment system.

The functions of the third-party payment platform can be roughly summarized into three items:

Firstly, receiving, processing and sending the payment instructions of online customers to the bank;

Second, carry out inter-bank fund settlement (sorting);

Third, replace banks and develop financial value-added services. ?

Among these three functions, the first one is to receive, process and send payment instructions, which is an essential basic function of the third-party payment platform.

The second function of fund settlement is options, and different platforms have their own trade-offs. Some payment platforms only have the first function and are not responsible for fund settlement.

The third function-developing financial value-added services instead of banks means that third-party payment platforms can help or even replace banks to develop many financial products in areas not covered by banks.

For example, for the professional market (paying utilities, etc. ), community market (such as property settlement, community management fees), independent unit market (such as large chain enterprises and institutions may engage in a set of their own things or entrust a third party to handle and expand banking business), mobile market related products. ?

Third-party payment platform enterprises with relatively good domestic operating conditions are mainly based on the following two business models:

(1) payment gateway mode:

The third-party payment platform integrates various bank card payment methods into one interface, which is used as the interface between the parties to the e-commerce transaction and the bank, and is responsible for the docking with the bank in transaction settlement. Consumers pay merchants through the third-party payment platform, which provides merchants with an interface platform compatible with various bank payment methods.

(B) credit intermediary model:

In order to enhance the trust of both parties in online transactions and better ensure the circulation of funds and commodities, the third-party payment service as a credit intermediary came into being, and implemented "collection and payment on behalf of" and "credit guarantee".

After the two parties reach a transaction intention, the buyer must first deposit the payment into his account on the payment platform. After the buyer receives the goods and notifies the payment platform, the payment platform will transfer the money previously deposited by the buyer from the buyer's account to the seller's account on the payment platform.

The essence of this model is to use the payment company as a credit intermediary to temporarily keep the payment on behalf of the buyer and the seller until the buyer confirms the receipt of the goods.

Baidu encyclopedia? Third-party electronic payment platform